Myanmar in NovemberBurma in November
Secretary of State Rex Tillerson will make his maiden voyage to Myanmar in November to discuss the Rohingya crisis. Here you will find humanitarian situation reports, news, analyses, evaluations, assessments, maps, information graphics and more about Myanmar:
Franziskus is said to have visited Myanmar in November
Believing recent accounts, Pope Francis will be visiting Myanmar this year, making him the first ever Pope to do so. The Union of Atlantic Asian News has announced that the Pope will travel through the countryside in the last November at President Htin Kyaw's invitat.
"Older Catholics " UCAN said the Pope is supposed to be arriving on November 27th and will stay four days in Myanmar. While the Pope had originally planned to travel to Bangladesh and India during this era, springs suggest that this journey has proven onerous. Instead, he will now stop in Myanmar, according to reports, before travelling on to Bangladesh and enjoying a few days in Naypyidaw and Yangon.
In spite of the historical importance of the incident (should it take place), it is another issue whether Pope Francis is greeted by the population.
Burma Postcard - Our top tips for November 2017 | Expert Insights
Abstract: Welcome to the 11th issue of the BLP's 2017 updated version of Myanmar. Burma's parliament last weekend passed Burma's new company code (the "Company Code"), which is now waiting for the president's signatures to become statute. The BLP staff was in charge of preparing company legislation in close cooperation with the Directorate of Investment and Company Administration ("DICA"), the supervisory authority for MYANmar.
Corporate law modernizes the legal environment for running a business and establishes more agile processes and a comprehensive system of corporate Governance. For more information, please see our Corporate Law Guidelines. At the end of October 2017, Myanmar and Bangladesh agreed to "stop the flow of Myanmar's inhabitants to Bangladesh" and "form a united group.
That was after a visit to Nay Pyi Taw, which was hosted by Myanmar's Minister of the Interior, Lieutenant General Kyaw Swe, and his Bangladesh colleague Asaduzzaman Khan. On 23 November 2017, Myanmar's Union Minister U Kyaw Tint Swe and Bangladesh's Foreign Minister Abdul Mahumud Ali on behalf of the Council of State Office of Myanmar ratified an accord on the repatriation of refugees who escaped to Bangladesh in order to avoid the Rakhine war.
US Secretary of State Rex Tillerson paid a visit to Nay Pyi Taw and held a meeting with Senior General Min Hlaing Aung and State Counsellor Daw Aung San Suu Kyi on 15 November 2017. Re-establishment of IDPs must continue to be a top priorities and any solution for one of Myanmar's least developed parts should include further regional prosperity and investments in the area.
Consideration of such interventions should take into account pertinent HR concerns and all Myanmar stakeholders can contribute to the improvement of the environment by fostering integrative working and developing settings. Recently, Myanmar has seen an increase in capital spending from Singapore and Japan. During the first six-month period, Singapore outpaced China in FDI in Myanmar and invested $1.7 billion.
More and more Singaporeans are taking up investments in Myanmar, benefiting from the increasing interest of Singapore' s capital market in Myanmar's investments and taking the opportunity to use the letter of intent between IE Singapore's trading office and the Myanmar Investments Commission (the "MIC") in June. Recently, Yoma Strategic Holdings Ltd, a subsidiary of First Myanmar Investments Co.
"FMI ", has successfully borrowed money on the Singapore equity market for further investments in its key business areas of property, automotives and large scale machinery. Singapore-Myanmar Investco also generated S$7 million for the expansion of its retailing, car and building activities in Myanmar. Myanmar tourist related asset were used by FMI, Yoma and others in a reversal of the acquisition of SHC Capital Asia Limited.
Japan's investments in Myanmar are also increasing. Particularly noteworthy are the investments made in Japan in the Thilawa Special Economic Zone ("Thilawa SEZ"). Since the end of 2015, the Thilawa SEZ has included the Marubeni, Sumitomo and Mitsubishi retail companies and the Japan International Cooperation Agency as part of the SEZ Group.
Japan continues to make investments in Thiwala SEZ, with Suzuki opening an automotive factory in the area in 2018 and a 5 entity JFE and Meranti opening a mill in 2020 to supply Myanmar's expanding building sector.
Investments from Japan should stay strong as the Bank of Japan kept short-term interest rate at -0.1% and the return on capital contributions remains depressed. We have helped many of our customers in Japan to travel to Myanmar and we are continuing to concentrate on maintaining relations with Asian and Asian Myanmar based investments.
In late October, Chris Hughes (Head of BLP Myanmar) held a workshop in Tokyo entitled Myanmar Investment Climate Reform & Market Update together with the Asia Development Bank Institute for over 100 JOI members. There was also a podium debate on Myanmar's reform and funding of the country's population. In the course of this journey, members of the BLP-teams visited a number of customers in Japan and conducted workshops on the new companies in Myanmar and the Myanmar Investment Law.
The Myanmar parliament, at the behest of President U Htin Kyaw, has authorised the creation of two new government departments, the Ministry of Foreign Co-operation and the Ministry of the Government of the Union. Under the leadership of U Thaung Tun, the Ministry of the Government Union will co-ordinate the various presidential offices of the various government offices and departments, while the Ministry of Foreign Co-operation under the leadership of U Kyaw Tin will be responsible for co-ordinating multilateral co-operation on policy and economics.
The Myanmar parliament has also approved President U Htin Kyaw's suggestion to amend and reappoint Myanmar's anti-corruption commission. In 2014, the creation of the Anti-Corruption Commission followed Myanmar's continuing calls for a strengthened position against deep-rooted bribery and was seen as a crucial move for democracy reforms and a move to increase global commerce.
While Myanmar's position in recent years has strongly strengthened in global bribery indexes, the government still holds 136 ( (out of 176) nations) in Transparency International's recent BCPI, and the Anti-Corruption Commission has been criticized for not having the authority to take action against high-ranking persons charged with it.
Aung Kyi, who has been appointed to head the committee, said this months report that "reforms are needed to increase effectiveness" and that Myanmar's bad record on bribery "harms the inflow of FDI". On 15 November 2017, the MIC made a declaration and a warning to appoint external specialists.
The statement reminds MIC that the application for the nomination of external specialists must be submitted before their visit or within seven working day of their visit to Myanmar. In addition, it was noted that, despite the fact that the MIC facilitates such nominations, some enterprises employ professionals without the consent of the MIC.
In addition, the investor is obliged to inform the Investment Committee of the withdrawal of such professionals. BLP members have worked in close cooperation with the BLP in drafting the rules for foreign investment and have the understanding and rapport to provide advice on all aspects of investment law. The CDU/CSU government passed a bill to implement and monitor the management of a national wealth taxes and presented it to the lower chamber, Pyithu Hluttaw.
Its main objectives are (i) to prevent the creation and increase of propertymonopoles, and (ii) to increase the government's fiscal revenues through efficient debt recovery. As a result, property denominations can be created, as high net worth private persons or businesses can buy and trade in several types of property in different areas.
This monopoly discourages external investors and worsens the position of less wealthy people who cannot afford shelter. On 16 November 2017, the MIC published a communication (No. 86/2017) which announced the provisional moratorium on the granting of permits or notices for new engineered timber companies. On 20 November 2017, the MIC published a Notice (No. 87/2017) stating that 100% export-oriented investors may request relief or exemption under Section 77(b) of the Myanmar Law 2016.